1inch Network Introduces cold storage Hardware Wallet
1inch Network, a decentralized exchange aggregation service, has officially announced the release of a 1inch hardware wallet. It is a cold storage hardware wallet that was made by a separate team in the 1inch Network.
The hardware wallet has a 2.7-inch e-ink grayscale touch display and does not require a connected connection. It would provide the safest technique to store users' private keys in an offline, easy, and open-source fashion. According to 1inch, the hardware wallet is completely air-gapped because it doesn't have any buttons, it doesn't connect directly to the internet, and it doesn't need a wired connection. Data is communicated using QR codes or, alternatively, NFC. The 1inch hardware wallet is about the size of a credit card, weighs 70 grammes, and measures 4mm thick.
Furthermore, the waterproof wallet will include a "Gorilla Glass 6 surface and stainless-steel frame." The wallet will also be available in five different colours, will support wireless charging, and the team claims the battery will last two weeks with regular use. 1inch has begun a waitlist scheme and intends to notify consumers when the device is ready for public consumption. The hardware wallet's architecture, according to 1inch, offers a Hierarchical Deterministic (HD) wallet algorithm. 1inch's announcement follows Ledger's recent hardware wallet introduction with a gadget developed by iPod founder Tony Fadell. Ledger's "Stax" device was supposedly created with "uncompromisingly secure architecture." The Stax wallet from Ledger is also the size of a credit card and has an e-ink touch screen.
The wallet is being built by an independent team in collaboration with the 1inch Foundation. To complete the project, the development team obtained funding from the 1inch Foundation. The project is in final stages of development. The firm recently revealed that the availability of this new hardware wallet let scheduled to be later this year.
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